Why don't Western Economists get it?

[Rubber Duck]

Take a look at this:

http://www.pwc.com/extweb/pwcpublications.nsf/docid/3549C1C5922EE2FF8025728A00543FA9

According to Price WaterhouseCoopers Shanhai will still rank 16th globally in 2020 behind:

New York
Los Angeles
Chicargo
Philadelphia
Washington
Boston
Dallas

Just who do they think they are kidding?

[touchring]

I think it's made with the assumption that dollar is still 2:1 to the pound by 2020! :)

By the time we get to 2020, oil and energy will be so expensive that PPP will favor ultracompact Asian cities. And by then, spring would have become winter, winter becomes autumn. :o

[Rubber Duck]

I think it's made with the assumption that dollar is still 2:1 to the pound by 2020! :)

By the time we get to 2020, oil and energy will be so expensive that PPP will favor ultracompact Asian cities. And by then, spring would have become winter, winter becomes autumn. :o

Yes, that is just about it. They have taken the 2005 figures and multiplied it by estimate average growth figures raised to the fifteenth power.

This is the sort of depth of analysis I would expect from your average GCSE candidate.

Pathetic does not even cover it!

There is no in depth analysis. There is no attempt to figure out what the real rates of growth are or any genuine attempt to figure out what is going to happen to the various currencies over that period.

Frankly, I wouldn't pay them Chinese labourer rates as a consultancy fee! Yet half our economy is based on the production of such rubbish!